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what does Barclays monthly savings earn?0
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what does Barclays monthly savings earn?
High fixed interest rate of 3.25% AER / 3.20% gross pa for months when you don't make withdrawalsAge: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
so at the moment i am looking at leaving the Barclays Monthly Savings Account and moving all the £1500 to the Nationwide FlexDirect account.
the Barclays Monthly Savings Account pays 3.25% before TAX but the Nationwide FlexDirect account pays 5% before TAX.
Q - can i pay in £1000 and then take it back out again on the same day from my first direct account to get the 5%. also can i do this on the last day of each month?
I have worked out that after TAX the Barclays pays £42.08 and the Nationwide FlexDirect pays £100 so its does seem like the right thing to do?Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
so i have opened the FlexDirect account that pays 5% before TAX via Top Cash Back for the £68.25 cash back.
it has come up on my Your Earnings page on top cash back and i have Validated it so i will see how long it takes to track and pay up. i will keep you posted but it might be a few weeks so i will post here when i get it/if it get it.
i setup a SO on a old current account so they have something to transfer in order to make 100% that i should get the cash back.
once the account is setup i will close the Barclays Monthly Savings Account and move all the money over just over £1500 and top it up to the £2500 max to get the max interest should be £100 for the year.Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
so i have setup a excel sheet to help manage my accounts and money.
see it below i would like to get some feedback on how it can be improved.
http://i.imgur.com/KPIw3MX.pngAge: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
strange this month my interest seems poor? not as good as last month.
June - 17.44
July - 16.27
and all my account have more money in them this month.Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
You got less interest because there were only 30 days in June. There were 31 days in May. You would get even less during February and November."Look after your pennies and your pounds will look after themselves"0
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Q - can i pay in £1000 and then take it back out again on the same day from my first direct account to get the 5%. also can i do this on the last day of each month?
Yes you can.
Some people on here have suggested a SO to go to Nationwide flexdirect and another SO from Nationwide flexdirect on the same day to go back to the original account where the £1000 came from so avoiding manual transactions."Look after your pennies and your pounds will look after themselves"0 -
- Regarding the Buy to let, if one was to buy a property outright, in cash, this would be a better investment than obtaining a BTL mortgage of course?
So what would the income be after tax from a £400 pcm ? anyone know?
If you could save money to buy property and then let out as a return.0 -
drbraindead wrote: »
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So what would the income be after tax from a £400 pcm ? anyone know?
How much are your monthly maintenance costs, insurance, your mortage payments, agent fees for the BTL? There's your answer.....0
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